"Unfortunately, it has become apparent that it is best for me to step down as president and general manager of the Toronto Raptors," Colangelo said in a statement released late Thursday evening. What exactly prompted the sudden announcement is unknown, but it's been quite obvious for some time that there is a serious discord between the two-time NBA Executive of the Year and the MLSE board. It is rumoured that current Raptors vice president and assistant general manager Maurizio Gherardini will occupy the role vacated by Colangelo on an interim basis.

"Unfortunately, it has become apparent that it is best for me to step down as president and general manager of the Toronto Raptors," Colangelo said in a statement released late Thursday evening. What exactly prompted the sudden announcement is unknown, but it's been quite obvious for some time that there is a serious discord between the two-time NBA Executive of the Year and the MLSE board. It is rumoured that current Raptors vice president and assistant general manager Maurizio Gherardini will occupy the role vacated by Colangelo on an interim basis.